1

Homeowners - The end is near

Your house was foreclosed and sold at auction. There's a new owner now and it's not you. It's a bank. At some point what will happen is that you will get a Notice of Possession giving you three days to vacate. Then the bank will file an unlawful detainer to regain possession of the house. Frankly, there's not a lot of defenses at that point. A lawyer can try to negotiate you more time or poke holes in the complaint if possible, but it's time to look at moving on.

2

Tenants get 90 days notice

If you're a tenant on a month to month and your landlord has been foreclosed on, the new owner-bank has to give you 90 days notice before they can start eviction proceedings - 60 days under Civil Code 1161a and another 30 days under a recent federal law. Those three months are intended to give you a decent amount of time to find another place, but you might do as well to consider a cash-for-keys offer.

3

Leases are binding

If you're a tenant with a lease, the new owner can't kick you out until the lease expires. That's also part of a new federal law, which supercedes existing law under which a lease is cut off after foreclosure. Again, you may get a buyout of the lease, which may be to your advantage if finding a new place is not too difficult.